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Psychology of Forex Trading
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naiza

Member Since Aug 09, 2016  36 posts naiza Dec 22 2016 at 13:54
Monnex posted:
Forex Psychology: If you want to profit from your trading don't do 7 mistakes

1- Trade too much

2- Risk too much

3- Thinking too much

4- Reading too much news & analysis

5- Gambling

6- Trading without strategy

7- No money management



It seems that the theory of 'too much' is not favorable.

leopoldo

Member Since Dec 17, 2015  41 posts Mario (leopoldo) Dec 25 2016 at 07:49
PriceAction13 posted:
I don’t switch on my trading terminal directly without 15 minutes meditation! Honestly, this process helps me for being a successful Forex trader! I make prepare my neurons before opening my chart by meditation!


Interesting approach and technique with meditation. I am wondering if it needs to be that long or even few minutes are enough for meditating smiley

Need for speed!
leopoldo

Member Since Dec 17, 2015  41 posts Mario (leopoldo) Dec 25 2016 at 07:49
naiza posted:
It seems that the theory of 'too much' is not favorable.


What do you mean by that?

Need for speed!
jamess2

Member Since Aug 20, 2016  29 posts jamess2 Dec 25 2016 at 08:34
MMM, I doubt that meditation will serve much in the Affairs of business. I.e., is in the personality of the dealer. If it is a volatile person, who does not trace its earnings targets and does not work professionally, the meditation will not help you.

FxMasterGuru

Member Since May 04, 2012  1564 posts FxMasterGuru (FxMasterGuru) Dec 25 2016 at 13:19
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. smiley

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Monnex

Member Since Nov 15, 2015  44 posts Monz (Monnex) Dec 25 2016 at 14:47
Forex Psychology: Always think risk before reward

The Worst Enemy Is The Time Taken To Find A Good Signal To Trade on
Monnex

Member Since Nov 15, 2015  44 posts Monz (Monnex) Dec 25 2016 at 14:48
Forex Psychology: Preserve your capital and don't run after ADS illusion that you will be millionaire with few dollars

The Worst Enemy Is The Time Taken To Find A Good Signal To Trade on
Monnex

Member Since Nov 15, 2015  44 posts Monz (Monnex) Dec 25 2016 at 14:48
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. smiley


depends in your EA strategy :-)

The Worst Enemy Is The Time Taken To Find A Good Signal To Trade on
FxMasterGuru

Member Since May 04, 2012  1564 posts FxMasterGuru (FxMasterGuru) Dec 25 2016 at 17:27 (edited Dec 25 2016 at 17:28 )
Monnex posted:
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. smiley


depends in your EA strategy :-)


Yes, correct...

I meant it for successful manual strategies which are hard to implement - on larger investments - due to psychological factors.

I was very good at demo trading, mediocre with smaller funds and disastreous with larger investments. Moving to fully automated trading has solved all my problems. I have never looked back.

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
RPatell

Member Since Apr 17, 2015  64 posts Raj (RPatell) Dec 27 2016 at 10:11
FxMasterGuru posted:
With algorithmic robot trading there is no concern of trading psychology... Also, less stress, more sleep and even more free time.

Added bonus: Making profits during the Asian session while you are sleeping. smiley


I guess this is the case when there is no flash crash of the markets during that session. Maybe you sleep better in general but isn't it a stress with the need to update the robots settings regularly, and when they go wrong? I'm not expert on auto trading so I was just wondering about these aspects as well.

Knowledge is king!
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